I was listening to Glen Branca’s composition The Spectacular Commodity last night and I realized- what a perfect description for a work of art. An artwork is a spectacular commodity. It is unique, limited in production, and has the potential for amazing value, as assigned by the art markets and museums.
This isn’t unique to a work of art obviously. Any commodity with limited production or in scarce supply has that potential, but I think the work of art is singularly unique in that the quantity of product is finite and limited to the artist’s lifetime of production. Artists don’t necessarily think of their work in their work these terms- at least not while starting out or as students, but this concept is consistently reinforced by the subtext of the art objects we are shown in art history and visual culture courses.
How does a society assign value, how does it change over time and implicitly as artists, don’t we want our work to be part of this valuation. What’s interesting is that an artwork may have great personal value yet little commercial market value. I’m thinking now of a particular painting I made in the autumn of 1976 during my last semester as a student at the Nova Scotia College of Art and Design in Halifax. It is a small painting of two similarly articulated towers tentatively painted in a brick coloured, earth red within the crudely drawn black linear forms that float on a light grey ground.

The painting is about 18 by 24 inches, on very heavy unstretched canvas. It pins to the wall. Based on a drawing I had made a few weeks earlier, it embodies all the qualities I thought a painting should have at that time. It was abstract, modest, personal, ambiguous in scale, tentative, anxious. These were all of the qualities I thought a painting needed to have at that time to recuperate and ressusitate painting from its earlier macho market excesses.
I have kept it with me over the past thirty years as a talisman for my development as an artist and a reminded of those heady days in Halifax. I donated it to the Art Gallery of Nova Scotia in Halifax in 2007 as part of the NSCAD archives there. As part of a Canadian Cultural Properties donation, it was assessed at a fair market value of $6000. It is interesting that if I was asked to assign a value, I would have said more than ten times that amount.